According to a new market report published by Lucintel, the future of the global phenolic resin market looks promising with growth opportunities in various end use industries, including construction, transportation, electrical and electronics, furniture, industrial, and others. The global phenolic resin market is expected to reach an estimated $14.5 billion by 2024 and it is forecast to grow at a CAGR of 5.1% from 2019 to 2024. The major drivers of growth for this market are increasing use of heat resistance, corrosion and chemical resistance materials in construction and transportation industry.
In this market, wood adhesive, molding compounds, laminates, insulation, coating, paper impregnation, and others are the major applications. On the basis of its comprehensive research, Lucintel forecasts that the molding compounds segment is expected to remain the largest segment by value and volume due to high heat resistance, mechanical strength and electrical properties and is used in automotive, aerospace, electronics and industrial market.
In this market, resol phenolic resin and novolac phenolic resin are the major type. On the basis of comprehensive research, Lucintel forecasts that the resol phenolic resin segment is expected to remain the largest segment by value and volume due to superior heat resistance, higher mechanical strength, moldability, and excellent friction properties.
In this market, construction, transportation, electrical and electronics, furniture, industrial, and others are the major end use industry. On the basis of its comprehensive research, Lucintel forecasts that the construction segment is expected to remain the largest segment by value and volume. Demand for heat resistant material and low cost material is driving phenolic resin market.
Asia Pacific (APAC) is expected to remain the largest region by value and volume; APAC is also expected to experience the highest growth over the forecast period due to growth in end use industries such as residential and commercial activities, increasing automotive production, and growing electrical and electronics demand.
Emerging trends, which have a direct impact on the dynamics of the industry, include the use of bio based phenolic resin and rosin modified phenolic resin. Hexion Inc., SQ Group, Georgia Pacific Chemicals, Sumitomo Bakelite Co. Ltd., SI Group are among the major suppliers of the phenolic resin market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global phenolic resin market by application, type, end use industry, region, and country. Lucintel has prepared a comprehensive research report entitled, “Growth Opportunities in the Global Phenolic Resin Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for global phenolic resin market by application, type, end use industry, region, and country as follows:
By application (Value ($B) and Volume (B lbs) shipment analysis for 2013 – 2024):
• Wood Adhesive
• Molding Compounds
• Laminates
• Insulation
• Coating
• Paper Impregnation
• Others

By type (Value ($B) and Volume (B lbs) shipment analysis for 2013 – 2024):
• Resol Phenolic Resin
• Novolac Phenolic Resin

By end use industry (Value ($B) and Volume (B lbs) shipment analysis for
(2013 – 2024):
• Construction
• Transportation
• Electrical and Electronics
• Furniture
• Industrial
• Others
By region (Value ($B) and Volume (B lbs) shipment analysis for 2013 – 2024):
• North America
− US
− Canada
− Mexico
• Europe
− Western Europe
− Eastern Europe
• APAC
− China
− Japan
− India
− Taiwan
− Republic of Korea
• ROW
− Central/South America
− Middle East

This 207 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… or [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth in global phenolic resin market by application (wood adhesive, molding compounds, laminates, insulation, coating, paper impregnation, and others), by type (resol phenolic resin and novolac phenolic resin), by end use industry (construction, transportation, electrical and electronics, furniture, and others) and region (North America, Europe, Asia Pacific and ROW)?
Q.2 Which product segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q.11 What M&A activities have transpired in the last 5 years in this market and what impact have these had on the industry?